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European Market for Imaging Technologies

By HospiMedica staff writers
Posted on 22 Sep 2005
With the exception of the United Kingdom where strong government commitment to healthcare is funding investment in new equipment, the European market for major medical imaging technologies is experiencing capital constraints. More...
As an increasing number of public hospitals lease imaging equipment, there is a growing need for vendors to be more flexible and creative in their products to better compete in the contract market, according to analysts at Frost & Sullivan (Palo, Alto, CA, USA; www.frost.com), an international growth consultancy company.

Whereas public health care institutions are dependent on government funding for new equipment, imaging service providers in the private sector have to invest their own capital, and therefore, they tend to be highly price-sensitive.

"In an increasingly unstable healthcare market, the challenge for vendors is to have the right financial tools to facilitate deals that do not severely constrict their margins,” noted Martin Bryant, a research analyst with Frost & Sullivan. "While offering the best specifications at competitive prices along with attractive financing options, it is essential to harmonize the communications process between the sales and finance departments to ensure significantly shorter sales cycles.”

Purchase processes in the medical imaging community are undergoing far-reaching changes and there is a considerable increase in the subject of large public tenders by healthcare providers. Because such a practice enforces significant price competition, there is enormous pressure on research and development (R&D) departments to produce cost-effective, high-performance products.

In meeting this challenge, vendors need to offset their R&D spending, while simultaneously reining in investment in intensely contested areas where a decrease in unit shipments is expected, according to Frost & Sullivan. As imaging technology continues to develop, healthcare providers are looking to upgrade their services with a complete range of advanced diagnostic systems. This has lead to growth in both multi-modality contracts as well as product bundling that encompasses the whole scope of a modality, wherein providers appreciate the security of being supplied everything they need by the same vendor.

By providing a comprehensive medical imaging system with the necessary peripherals, software, and connectivity, vendors stand to gain high volume contracts. The growth of competition in the medical imaging technologies market has seen vendors increasingly distinguish themselves by means of financial, training, and asset management services, a propensity that reflects the mature stage of the western European market.


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